|Bid||0.00 x 1500000|
|Ask||0.00 x 1500000|
|Day's Range||566.02 - 571.50|
|52 Week Range||400.00 - 620.00|
|PE Ratio (TTM)||328.79|
|Forward Dividend & Yield||9.46 (1.77%)|
|1y Target Est||N/A|
Central Florida's banks are ready to grow, despite increased competition and the need for high-tech advancements.
U.S. entrepreneurs feel increasingly optimistic about the future, as their confidence in the economy, revenue and long-term growth has reached the highest level since 2015, according to the spring 2018 Bank of America Business Advantage Small Business Owner Report.
During 2017, many large US banks reported a material slowdown in the growth of noninterest-bearing deposits, a credit negative, Moody's Investors Service says in a new report. This trend is likely to continue in 2018 as short-term interest rates rise further, which opens the possibility for an outright contraction in banks' noninterest-bearing deposits, though this could be mitigated by growth in low-cost interest-bearing alternatives, such as interest checking. "The deposits held in noninterest-bearing accounts are at the heart of a typical banking relationship, forming a cornerstone or 'crown jewel' in banks' franchises," Moody's Senior Vice President Allen Tischler says.
A key Republican lawmaker called out Citigroup Inc. and Bank of America Corp. for their decision to restrict business with the firearms industry. Senate Banking Committee Chairman Mike Crapo, whose committee writes banking laws and oversees Wall Street’s regulators, wrote to the chief executive officers of both banks last week. “We should all be concerned if banks like yours seek to replace legislators and policy makers and attempt to manage social policy by limiting access to credit,” Crapo, from Idaho, wrote in a letter to Citigroup CEO Mike Corbat.
The nation's second-largest bank hosted its shareholders at the Hilton Charlotte Center City, and an overarching theme of positivity due to BofA's most recent track record of success was palpable throughout the room.
It’s long been suggested that the stock market is vulnerable during earnings season because its biggest allies, companies themselves, are sidelined. Repurchases by Bank of America Corp.’s corporate clients rose to a four-year high last week, the firm’s equity strategists led by Jill Carey Hall and Savita Subramanian wrote in a note Tuesday. Financial firm buybacks were particularly strong, hitting levels not seen since BofA began tracking the data in 2009.
Bank of America Corp.’s new policy denying loans and other services to certain gun makers came after dozens of employees lost family members or suffered other trauma related to mass shootings in the past few years. “This comes from our teammates saying we have to help,” Chief Executive Officer Brian Moynihan said Wednesday at the company’s annual meeting in Charlotte, North Carolina. “The company is willfully giving up money,” Justin Danhof, general counsel of the National Center for Public Policy Research, said to Moynihan.
Amid all the excitement about China’s plan to open up its securities market, one U.S. banking giant is playing it cool. Deterred by what it sees as uncertain profit opportunities, Bank of America Corp. has no near-term plans to follow the seven foreign firms -- from Goldman Sachs Group Inc. to Credit Suisse Group AG and Citigroup Inc. -- that have set up securities joint ventures on the mainland, a person with knowledge of the bank’s strategy said. China plans to allow foreign firms to take majority stakes in securities JVs this year.
The mortgage lending market is starting to slow, particularly for large, national banks. As a result, a handful of them, including Bank of America Corporation ( BAC), Wells Fargo & Company ( WFC) and JPMorgan Chase & Co. ( JPM), are pouring tons of money into mortgage apps and websites, betting that this is the way to drive younger home buyers their way. The moves, highlighted in a Reuters report, are also aimed at eliminating errors in paperwork and making it easier and quicker for customers to get approved for a home loan.
On the heels of a market friendly tax cut, record corporate earnings and a chorus of talking heads including yours truly predicting another year of rising stock prices, only one thing is missing. Every bull market has its wall of worry and this year is no different. The usual market killing suspects are all doing their best to keep investors off balance.
While the bank will more than likely compete with bigger banking giants for business, local banks could feel a recruitment squeeze, experts say.
Artificial intelligence is among the hottest topics across industries, and the advances in its use are stunning. Earlier this month, Harvard Kennedy School’s Belfer Center for Science and International Affairs and Bank of America announced the formation of The Council on the Responsible Use of Artificial Intelligence (AI), a new effort to address critical questions surrounding this far-reaching and rapidly evolving application for data and technology. In a press release, Dan Schrag, Co-Director of the Belfer Center’s Science, Technology, and Public Policy Program noted, “Artificial intelligence and machine learning have potential to improve our lives in all sorts of exciting ways, but there are also risks.
When BOA SA. (WSE:BOA) announced its most recent earnings (31 December 2017), I did two things: looked at its past earnings track record, then look at what is happening inRead More...
SHANGHAI (AP) — Missed paying dues on your Communist Party membership? There's a bank for that - and it's fully automated.
Bank of America Corp (BAC.N) has spent $1 billion on its digital banking services in the last six years and launched its lineup of techy mortgage products last week. Bank of America's app automatically fills in a customer's address, employment history and other information that the bank already has, cutting out hundreds of boxes customers would otherwise have to fill. Quicken Loans was the first to gain traction with digital home loans following its 2016 Rocket Mortgage launch.
Morgan Stanley (MS) stock has fallen 4.6% over the past three months and risen 28.7% over the past year. In comparison, the overall sector (XLF) has fallen 6.4% and risen 19.1%, respectively. The bank’s asset management offerings, interest income, and consistent trading revenue have continued to support its strong performance.
Wall Street analysts were upbeat about investment bankers (XLF) in 1Q18 due to an expected spike in trading. Major banks managed to beat estimates and the overall forecast for 2Q18 is lower.
The nation's six big Wall Street banks posted record, or near record, profits in the first quarter, and they can thank one person in particular: President Donald Trump. While higher interest rates allowed ...
Big U.S. banks are racing to launch websites and mobile apps to make getting a mortgage faster and easier, investments that may have modest near-term payoffs as home lending activity slows. Bank of America Corp (BAC.N) has spent $1 billion on its digital banking services in the last six years and launched its lineup of techy mortgage products last week. Wells Fargo & Co (WFC.N) rolled out its website and app service during the first quarter, and JPMorgan Chase & Co (JPM.N), which is investing $1.4 billion in technology in 2018, plans to launch its offering later this year.
Morgan Stanley (MS) benefited from higher volatility and posted strong operating numbers. The bank’s Institutional Securities segment posted net income of $2.1 billion, compared with $1.7 billion in 1Q17. The segment’s top line rose to $6.1 billion from $5.2 billion in 1Q17, largely due to sales and trading amid higher market volatility.
The Republican tax overhaul, passed in December, has saved some of America's largest corporations billions in taxes. Financial institutions, among the first companies that typically ring in the corporate earnings season in the U.S., have historically paid some of the highest taxes due to their domestically centered business models. America's leading banks such as JPMorgan Chase & Co. ( JPM), Goldman Sachs Group Inc. ( GS) and Morgan Stanley ( MS) saw their tax rates fall below 17% and 23% for the January through March quarter.
Morgan Stanley (MS) posted EPS (earnings per share) of $1.45 in 1Q18, higher than analysts’ estimate of $1.25 and its EPS of $1 in 1Q17. The investment bank benefited from market volatility and higher trading revenue across product offerings. It posted net revenue of $11.1 billion and net income of $2.6 billion, representing growth of 14% and 40%, respectively, helped by lower tax, higher trading, and improved efficiency.
Investor sentiment remained upbeat on banks' Q1 earnings, with the major players displaying top-line strength on the back of higher rates and improved trading.
JPMorgan Chase (JPM) stock has generated a return of 13.1% in the last six months and 29.0% in the last year. In comparison, the financial sector (XLF) has grown 5.1% in the last six months and 18.6% in the last year, respectively.
Wall Street analysts are maintaining their bullish outlook on US banks (XLF) amid trade wars, lower taxes, and a push for domestic manufacturing. Among major bankers, JPMorgan Chase (JPM) has garnered 13 “buys” or “strong buys” out of 28 analysts in April 2018. Thirteen analysts have recommended “holds” on JPMorgan, whereas one has given it an “underperform” rating, and one has given it a “sell.” JPMorgan Chase commands a one-year mean price target of $121.78 compared to its current price of $110.30, reflecting average growth.